China's Purchasing Managers' Index (PMI) rebounded to 50.9 percent in August from a 29-month low of 50.7 percent for July, the China Federation of Logistics and Purchasing (CFLP) said Thursday.
The August figure ended four consecutive months of decline, and also beat the preliminary forecast of 49.8 percent for the month by a HSBC survey.
PMI is a gauge of manufacturing expansion. A reading below 50 indicates contraction from the previous month, while a reading above 50 indicates expansion.
Cai Jin, deputy chairman of CFLP, said the index showed the economic growth remained stable.
The manufacturing index from the logistics federation is based on a survey of purchasing managers in more than 820 companies in 20 industries.
Source: Xinhua